Xponance Inc. Has $697,000 Stake in Macy’s, Inc. (NYSE:M)

Xponance Inc. raised its stake in shares of Macy’s, Inc. (NYSE:M) by 6.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 34,661 shares of the company’s stock after purchasing an additional 2,013 shares during the period. Xponance Inc.’s holdings in Macy’s were worth $697,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in M. Vanguard Group Inc. boosted its stake in shares of Macy’s by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the last quarter. Newport Trust Company LLC lifted its stake in Macy’s by 0.6% in the third quarter. Newport Trust Company LLC now owns 7,810,216 shares of the company’s stock valued at $90,677,000 after purchasing an additional 45,159 shares during the last quarter. AQR Capital Management LLC lifted its stake in Macy’s by 48.9% in the third quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock valued at $61,211,000 after purchasing an additional 1,730,307 shares during the last quarter. American Century Companies Inc. lifted its stake in Macy’s by 20.8% in the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after purchasing an additional 565,269 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Macy’s by 260.8% in the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after purchasing an additional 1,841,432 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Trading Up 0.5 %

Macy’s stock opened at $18.44 on Friday. The stock has a market cap of $5.07 billion, a P/E ratio of 49.84 and a beta of 2.15. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The firm’s fifty day moving average price is $19.63 and its 200-day moving average price is $17.48. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.47. The firm had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Equities research analysts forecast that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.77%. Macy’s’s payout ratio is 186.49%.

Insider Buying and Selling

In related news, CEO Antony Spring sold 14,859 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total value of $291,682.17. Following the completion of the transaction, the chief executive officer now directly owns 248,897 shares in the company, valued at $4,885,848.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Macy’s news, EVP Danielle L. Kirgan sold 15,070 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $307,729.40. Following the completion of the sale, the executive vice president now directly owns 306,555 shares in the company, valued at $6,259,853.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Antony Spring sold 14,859 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the sale, the chief executive officer now owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,424 shares of company stock worth $4,405,507. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Thursday, March 28th. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. StockNews.com initiated coverage on shares of Macy’s in a report on Wednesday. They set a “hold” rating on the stock. The Goldman Sachs Group boosted their target price on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Morgan Stanley lowered their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.45.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.